After a lot of speculation, Elon Musk has finally concretized the goal he has long wanted. It owns the second largest social network in the world.
According to newly released information from the US Securities and Exchange Commission (SEC), Elon Musk has just purchased 73.5 million shares of Twitter, equivalent to nearly 3 billion USD. With the total value of Twitter shares holding, Elon Musk has become the largest shareholder of this social networking platform. In other words, the boss of SpaceX is getting very close to owning Twitter (if he continues to increase the amount of shares held).
After the above information was announced, Twitter’s share price increased rapidly in the trading session on April 4. Accordingly, 1 share of this company has increased 27%, from $ 39.31 to $ 49.97. This is Twitter’s biggest growth session ever recorded in many years.
Remember not long ago, Musk criticized Twitter for not being able to build an environment that allows users to free speech. The boss of SpaceX also hinted that he would open his own social network. But the act of buying more than 73 million shares of Twitter has shown that Elon Musk wants to go a faster route. Instead of building from scratch, perhaps this billionaire is trying to swallow Twitter.
Perhaps with Musk’s ambition and immeasurable financial potential, it is only a matter of time before Twitter returns to him.